Ann: Gulf Capital Raising Update, page-11

Need to make a profit before paying tax. Its not unusual to get a tax holiday, OMH pays no import or export tax on materials or product(never) and will pay tax on profits after 5 years.
Indonesia is likely to change their minds on any agreement, Indonesia is no better than doing business in India, maybe worse.

However if GMC builds their own coal fired power station, then there is no problem. But you don't build a power station for peanuts, how will they fund their own power station. GMC is battling to install a second hand furnace.
GMC needs to be competitive, it cannot do it with power/electric prices at US$0.11/KWh.
You won't see any large company interested in building smelters in Indonesia, they are all at SCORE Sarawak, why? Cheapest power in ASIA
Power is a major cost factor in producing manganese alloys, if your cost base is 3 x higher than your next door competitor you'll go broke. Pity you blokes don't realise this.
GMC is most likely a good casino punt if it goes to .004c for a short term trade.